Switching from Halifax to Abbey

dreamypuma

mrsdarbs wrote: »

My husband also received that letter from Halifax today. He has an agreed overdraft of £600 on the account and we use that to the max every month at the moment as we are trying to clear some debt and the interest on that is only about £6 a month at the moment. With the new changes it will go up to over £30 a month and we are now considering changing (had been looking before). Are Alliance & Leicester any good?

I've come to the conclusion that the banks that are offering cash back are poo, with maybe the exception of Nationwide who's cash back is £50. I notice that the fee free bank accounts with A&L have a 50p per day charge for overdrafts capped at £5 per month.

Dave_®f©

withnell wrote: »

While the new T&C's become active for existing customers from 1st Nov, think they apply to existing customers from the date they were published, ie can't apply for more than 1 sole and 1 joint

I just opened two additional reward accounts today to give me three in total. Just to push the 1k between them for £180 per year.

dreamypuma

Dave_®f© wrote: »

I just opened two additional reward accounts today to give me three in total. Just to push the 1k between them for £180 per year.

So let me get this straight, If I have three Reward Accounts, put £1000 in one account transfer this £1k to the 2nd account, and then the third, I can bag £15 per month?

How long do I need to keep the £1k in each account to qualify for the £5? I assume as all accounts are held with the Halifax, I can transfer funds between accounts instantly?

Dave_®f©

dreamypuma wrote: »

So let me get this straight, If I have three Reward Accounts, put £1000 in one account transfer this £1k to the 2nd account, and then the third, I can bag £15 per month?

How long do I need to keep the £1k in each account to qualify for the £5? I assume as all accounts are held with the Halifax, I can transfer funds between accounts instantly?

1k only needs to hit the account and then straight back out. Everything you say is absolutely spot on.

mrsdarbs

dreamypuma wrote: »

I've come to the conclusion that the banks that are offering cash back are poo, with maybe the exception of Nationwide who's cash back is £50. I notice that the fee free bank accounts with A&L have a 50p per day charge for overdrafts capped at £5 per month.

Thanks we already have a joint flex account with nationwide so can't open another one in his name. We have a reducing overdraft on this at the moment and so I don't want to swap all his banking over to this as we will loose the £600 that we get via his overdraft.

Sorry probably rambling just everything seems to be getting me down.